Hilton Bets on Vegas With Casino/Hotel to Open as Curio Property

Hilton is hoping to capitalize on what may be a growing gambling market in Las Vegas.

NEW YORK (TheStreet) -- Hilton Worldwide (HLT) is launching Curio, a luxury brand, and making the SLS Las Vegas casino/hotel in Las Vegas one of the first Curio properties.

Curio will be a collection of four- and five-star hotels that will allow Hilton customers to earn and redeem rewards points under the Hilton HHonors program.

"Our customers and owners have expressed strong interest in a brand from us that includes hotels that can retain their unique identity but also deliver the many benefits of our system, including our Hilton HHonors guest loyalty program," Hilton CEO Christopher Nassetta said in a statement.

In Las Vegas, Hilton is joining SLS Las Vegas, which is owned by SBE Entertainment and Stockbridge Real Estate, to renovate the former Sahara Hotel and Casino on the northern end of the Las Vegas Strip. The $415 million hotel is scheduled to open on Labor Day weekend.